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    Analysis of the post earnings announcement drift in the Nairobi Securities Exchange

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    Full - text undergraduate research project (1.715Mb)
    Date
    2015-12
    Author
    Musalia, Claude Mugaravai
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    Abstract
    This paper is an event study concerning the market anomaly, Post-earnings-announcement drift (PEAD) in the Nairobi Securities Exchange from 2008 to 2014. The PEAD theorizes that a stock's cumulative abnormal returns tend to drift in the same direction of an earnings surprise for several weeks following an earnings announcement. Its aim was to determine if the PEAD occurred in the Nairobi securities exchange and whether it could be used to monitor stock performance. Stock performance was determined by using the market model to regress the stock returns against the market returns. Evidence from the study suggests that the PEAD anomaly occurred in the NSE and that it could be used to monitor stock performance.
    URI
    http://hdl.handle.net/11071/4417
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    • BBSA Research Projects (2016) [26]

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